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In the  euro area  analysts at Danske Bank expect the PMI, which has moderated recently, to yield another ‘softer’ reading across countries.

Key Quotes

“It will be interesting to follow the manufacturing PMI and see the potential impact of the spill over of the ongoing trade spat in the US. So far, we expect it to be relatively benign.”

“In the  UK,  CPI figures for April are due out. Inflation is falling back towards 2%, as the impact of GBP depreciation fades. How fast it falls back will be an important factor for how fast the Bank of England tightens monetary policy.”